See update below -
SPX 60m - Look what has shown up at the bottom of this chart - the lower P2 support line (blue dashed) near 1155. So now we can clearly see the rising wedge ending/consolidation area on one chart. Eerily similar bottoming pattern here to set divergence. Gaps are brown rectangles. Questions I have received on gap coverage are bountiful. My answer is that the market will leave gaps. They are like magnates and should eventually get covered, but this is not a law of any sort. With a P3 and the impending volatility, it should theoretically leave some massive holes along the way. There is a good chance these gaps will not get filled. If they do the bears better look out. It will take a very powerful move to crack that lower dashed support line, so what I do like is that if we are in a 3 and a 3rd of a 3rd is coming that will be what is required to get thru that line.
UPDATE - Fun to be able to post things like this back to back.